TOPIC: Compensation, Trends and Best Practices
What is a Salary Benchmark Job in Compensation?
A salary benchmark job is defined as a job that is widespread across many industries. For example, Accountant is a benchmark job. Some companies may …
by Connor Harrison - June 17, 2019
TOPIC: Compensation, Compensation Conscience
The Value of a Total Compensation Statement
The purpose of a Total Compensation Statement, otherwise known as a Total Rewards Statement, is to make the employee realize the overall value of the …
by Brett Rudy - June 17, 2019
TOPIC: Compensation, Compensation Conscience
Compensation Analysis Glossary
A compensation analysis, also called salary analysis or pay analysis, is an organization-wide review of how your jobs are classified and compensated. Performing a compensation …
by Stephan Duncan - June 16, 2019
TOPIC: Compensation, Compensation Conscience
What Is a Salary Grading Scale?
A salary grade scale is a pay format where employees are placed within a pay level based on their education and work experience. Each job …
by Brett Rudy - June 14, 2019
TOPIC: Compensation, Compensation Conscience
Defining the Difference Between Average and Median Salary
Median and average salaries are both measures of central tendency or the “middle of the market” regarding compensation. Many organizations target employee pay at either …
by Brett Rudy - June 5, 2019
TOPIC: Compensation, Compensation Conscience, Pay for Performance
6 Steps to Take Before Creating a Pay Matrix
In today’s war for talent, an increasing number of organizations are leveraging performance-based compensation plans, like bonuses and merit increases, to reward top employees. Research …
by Connor Harrison - June 5, 2019
TOPIC: HR Technology and Data, Human Resources, Trends and Best Practices
4 Comp Tools that Drive Compensation Decisions
Compensation decisions have a major impact on business success, from influencing employee engagement, productivity, recruitment, and retention to affecting profitability and compliance. With so much …
by Candice Wolken - June 5, 2019
TOPIC: Compensation, Future of Workforce, HR Compliance
Compensational Professionals and CCP Certification
Earning CCP Certification can be expensive and time-consuming, but often a worthwhile investment. Most compensation professionals view a CCP as a long-term investment that will …
by Sarah Reynolds - June 5, 2019
TOPIC: Compensation, Trends and Best Practices
5 Ways to Eliminate Salary Compression
Salary compression (also known as “wage compression” or “pay compression”) occurs when employees with different skills and experience are paid similarly. When salary compression occurs, …
by Stephan Duncan - May 23, 2019
TOPIC: CEO/CFO, Trends and Best Practices
Creating Effective Salary Bands That Fit Your Structure
Salary bands, also known as pay bands, are pay ranges given to groupings of roles. Salary bands’ pay ranges are influenced by geography, cost of …
by Stephan Duncan - May 23, 2019
TOPIC: CEO/CFO, Pay Equity, Trends and Best Practices
Why the Salary Midpoint Formula Is Crucial to Getting Pay Equity Right
The salary midpoint is the middle point of a salary range’s minimum and maximum. The salary midpoint should represent a fair and competitive salary based …
by Stephan Duncan - May 23, 2019
TOPIC: Compensation, Compensation Conscience, Human Resources
Do Men Make More Than Women?
No matter where you are in your career, it’s worth considering how pay gaps may impact you and those around you. Women earned just 85 …
by Connor Harrison - May 23, 2019
TOPIC: Compensation, Trends and Best Practices
Designing Compensation Structures: Which Is Right for You?
A compensation structure (or salary structure) is a hierarchal group of jobs that are assigned to salary ranges within an organization. Salary structures are composed …
by Stephan Duncan - May 23, 2019
TOPIC: Compensation, Compensation Conscience
What is Broadbanding in Compensation?
In human resource management, broadbanding is defined as having extremely wide salary bands, much broader than in traditional salary structures. While a typical salary band has …
by Stephan Duncan - May 16, 2019
TOPIC: Compensation, Diversity & Inclusion, Pay Equity, War for Talent
Why Is External & Internal Equity in Compensation So Important?
Prioritizing fair pay and closing the gender pay gap are two of the biggest initiatives in compensation today. Implementing processes to sustain fair pay throughout …
by Connor Harrison - May 15, 2019
TOPIC: Human Resources, Trends and Best Practices
Compensation Ratios for HR – Explained!
How competitive are your company’s salaries? How fair is pay among your workforce? A quick way to identify potential problem spots is with compensation ratios. …
by Christopher Fusco, CCP, GRP, SPHR - May 10, 2019
TOPIC: Compensation Conscience, Human Resources
Human Resources Can Be Your Company’s Most Valuable Asset
Businesses typically spend between 40 to 80 percent of gross revenue on employee salaries and benefits combined, depending on what sector the business is in. …
by Sarah Reynolds - May 10, 2019
TOPIC: Compensation, Compensation Conscience
A Beginner’s Guide to Pay Compression
Have you been wondering: “what is pay compression?” It can be tricky to spot, even for seasoned HR pros. It’s time to get a better …
by Stephan Duncan - May 10, 2019
